No-Fee ATMs Roll Out In New York City!

New Yorkers can now withdraw cash from ATMs outside their banks without having to pay a fee. Two young businessmen have created a fee-free ATM they hope will catch on. About two dozen FreeATMs have rolled out in coffee shops, delis and bars in Manhattan, Brooklyn and Queens. The processing fees are paid for by advertisements, which play for about 10 seconds while customers wait for the money to be dispensed. While there’s no fee at the machine, banks could potentially charge their own fees after the fact. And the big challenge for the startup is that there are only a small number of FreeATMs while traditional ATMs are just about everywhere. The Founder’s said they came up with the idea to set up a free ATM as broke college graduates. The business is hoping to expand quickly, and plan to add another 30 machines by the end of the year: LINK